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Sunday, 04 October 09
GRASIM TO CONSOLIDATE CEMENT BIZ
 The Statesman reported that, India's largest cement producer Aditya Birla group today said it would consolidate its cement businesses by merging Grasim cement with Ultra Tech, which together will have a capacity of 49 million tons per annum or 20 per cent of the country's cement production.
The group, which had acquired Ultra Tech from engineering giant L&T in 2004, said it would hive-off Grasim cement into Samruddhi, a wholly owned subsidiary.
The demerged entity would be listed and then merged with UltraTech.
“Post consolidation of Samruddhi and UltraTech, a cement company with a capacity of 49 million tons will be created,” Grasim's whole-time director and chief financial officer, Mr Adesh Gupta told reporters here.
India produces nearly 219 million tons of cement per annum and is the second largest producer of the building material after China.
Presently, the capacity of Grasim is 26 MT and that of UltraTech is 23 million tons. “The entire consolidation would be over in the next 8-10 months,” Mr Gupta said.
The Aditya Birla Group chairman, Mr Kumar Mangalam Birla, in a statement said: “The restructuring move is designed to ensure Grasim's majority stake in, and continued support to, the rapidly-growing cement business, while simultaneously providing Grasim shareholders direct participation in the pure-play cement company.”
Post-merger (Samruddhi and UltraTech), Grasim's holding in the consolidated entity would be somewhere between 55-65 per cent, Mr Gupta said.
“Our holding in the merged entity will be between 55 and 65 per cent as we hold 55 per cent in UltraTech Cement while post-demerger our holding in Samruddhi will be 65 per cent,” he said.
Grasim shareholders would hold 35 per cent in Samruddhi.
The demerger of Grasim Cement is likely to be completed in the last quarter of this fiscal, he said.
As a part of the restructuring exercise, Samruddhi would issue one equity share of Rs 5 each to Grasim shareholders for every share they hold in Grasim.
The advisors to Grasim's restructuring process are DSP Merrill Lynch, Enam Securities, Amarchand and Mangaldas, Suresh A Shroff and Company and Ernst and Young. PTI
Source: The Statesman
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Thursday, 08 October 09
COAL INDIA SAYS IMPORTS COULD JUMP 10 TIMES IN 3 YRS
Reuters reported that, Coal imports by state explorer Coal India Ltd could jump 10 times to 40-45 million tonnes in three years to meet a sharp rise ...
Thursday, 08 October 09
MINING TO ATTRACT $6B: BKPM
The Jakarta Post reported that, Indonesia’s mining sector could expect investment of up to US$6 billion in the 2010-2012 period, in part becau ...
Thursday, 08 October 09
INDIA DEMAND TO HELP DIRE COAL OUTLOOK - MACQUARIE
Reuters reported that, Macquarie Securities said on Wednesday its bearish short-term outlook on thermal coal may begin improving in a year's time o ...
Thursday, 08 October 09
ESSAR UNIT WINS INR 479 CR (US$ 103,272,401) ORISSA PROJECT
The firm will develop and operate the terminal at Paradip port; the contract will stretch up to 30 years
Live Mint reported that, Essar Shipping ...
Wednesday, 07 October 09
ESSAR, JINDAL IN TAKEOVER TUSSLE FOR AUSTRALIAN COAL MINER
Reuters reported that, Privately owned Essar Group has launched a surprise A$144.2 million ($128.1 million) bid for Australian coal minnow Rocklands ...
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- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
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